Hub International Limited (Hub) has acquired the assets of Cosaint Insurance Partners. Terms of the transaction were not disclosed.
Image: Hub acquires Pennsylvania-based insurance agency. Photo: Courtesy of Satterly/Wikipedia.org.
The principal owners of Cosaint Insurance Partners were part of Nationwide Mutual Insurance Company’s (Nationwide) exclusive distribution model and are joining Hub concurrent with Cosaint Insurance Partners’ shift to an independent broker.
Headquartered in Conshohocken, Pennsylvania, Cosaint Insurance Partners is an independent insurance agency whose partners, with a combined experience of more than 100 years, provide personal and commercial insurance in Pennsylvania and the surrounding states.
“Cosaint Insurance Partners is a well-respected insurance agency, formed to capitalize on Nationwide’s exclusive distribution model transition,” said Neil Hughes, President of Hub’s U.S. Central Region. “Together, we will continue to offer an independent platform for them and other agents who join Hub to grow and deliver insurance solutions tailored to the evolving needs of their clients.”
President and COO of Cosaint Insurance Partners, Robert Bush, and Chairman and CEO, Dennis O’Neill, will join Hub and report to Mr. Hughes.
“We are thrilled to become part of the Hub team,” said Mr. Bush and Mr. O’Neill. “Joining Hub, with its vast resources and strong relationships, will allow us to offer new carrier and coverage options for our clients and continue our mission of helping other Nationwide Agents transition and serve their clients in a best-in-class model.”
Source: Company Press Release